The end of the financial year in Australia is just around the corner. It’s an important and busy time for organisations of all sizes with the completion of bookkeeping, tax returns and plans underway for the new financial year.
So, what are some of the top tips for business owners to consider for the financial year ahead?
Partner with experts
Working with the right partners for your business can help eliminate costs, accommodate change and reduce complexity.
Having a recurring payment solutions provider on board can significantly add value for a business. It means greater flexibility, consistent cashflow and a full credit control system, saving time and money so you can focus on what’s important – your customers and exceptional service.
What’s more, many businesses have existing business management software and, to make life easier, these systems and payment platforms can talk to each other. Application program interface (API) integration enables tools, products and applications to work together, providing greater options and scope.
With these benefits, and more, it can be very worthwhile to find the right experts for your business to partner with.
Focus on your core
There’s no doubt life is getting busier and people are increasingly time poor, so it’s important to make things as seamless as possible in your business and as easy as possible for your customers.
A key way to do this is to offer flexibility around payments. Payment plans increase retention due to their reliability, ease of use and security guarantees. It also offers consistent cashflow and a full credit control system, saving time and money so you can focus on your core business.
Increase shift away from cash to direct debit
A steady and reliable cashflow is vital to any business. Relying on large one-off payments could make your business vulnerable should these slow down for whatever reason. With an effective payment plan, you can rest assured that you have regular and reliable cashflow, putting an end to chasing payments and late fees.
Good business practice adds value to a business so why not consider your options for the financial year ahead?
David Christiansen, National Sales Manager (Australia & New Zealand), Debitsuccess